America WILL Enter Another Deppression

Originally posted by murfdog
reply to post by thoughtsfull

 

I agree with all except the part about being in repayment mode. The housing market is heading for what many see as being another massive wave of defaults. All of the 2005-2007 adjustable rate mortgages that were primarily teaser rates (short term low rates just to get people to qualify) are due to adjust starting some time this year. When this happens they are expecting possibly 40-50% of them to go into default. If this occurs, based on what happened in 08, we should see another collapse in the financial markets leading to a panic in the stock market possibly worse what than we had in the early part of 09. Remember many investors were caught of guard last time and will not want to be last to the exit this time around.
Obviously no one has a crystal ball (yes even the people on the prophecy threads) but I feel it would be prudent to prepare for the worst but hope for the best, and vote for conservatives (not democrats or republicans)but true conservatives this fall.
God bless

[edit on 18-1-2010 by murfdog]

I completely agree with all you have just said, as the bailouts will rumble on the markets will push Western Governments to show more signs of pushing people into repayment mode by levies/taxation..

That is not to say that the markets themselves are safe or secure..

They need to replace the monopoly money they are currently pouring into the system with our earnings.. at some point soon the markets will need to see that..

So if the Establishment and the elite manage to scrape by with the bailouts, that second (repayment) part is yet to come no matter what..

I feel the social and economic impact of that will send us back to square one.. However I look at it, it is a lose/lose situation for everyone.

This is an article dated november 2008 however, its still a nice comfort to you americans.

If you happen to be American, I’ve got “good” news for you in these confusing times of a crashing economy and staggering debt. My home country, the tiny kingdom of Belgium, Europe (pop 10 million, the size of Maryland) just managed to beat the USA on the tragic “national debt per inhabitant” hitlist.

With the US reaching a breath-taking EUR 26,047 of debt for each of its +300 million citizens, Belgium actually beat the USA by posting an even more stunning EURO 28,125 worth of debt for each inhabitant on the Belgian National Debt Clock. [Figure check: this week's Tijd financial newspaper, in Dutch]. I’m slightly confused, and maybe you are too. Should we somehow be proud, having beaten the USA?


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